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Residential real estate finance for individuals falls 0.3% to SAR 12.7 bln in August: SAMA
Saudi Arabian banknotes
Residential real estate finance provided for individuals by banks in Saudi Arabia fell by 0.3% year-on-year (YoY) to SAR 12.7 billion in August, data issued by the Saudi Central Bank (SAMA) showed.
Compared to July 2022, residential real estate finance rose by nearly SAR 5.51 billion, or 77%.
|
New Retail Residential Real Estate Finance (SAR mln)* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
16,829 |
12,151 |
(28%) |
|
February |
14,181 |
8,784 |
(38%) |
|
March |
18,040 |
15,276 |
(15%) |
|
April |
15,595 |
9,219 |
(41%) |
|
May |
8,906 |
8,810 |
(1%) |
|
June |
8,322 |
13,122 |
+58% |
|
July |
9,381 |
7,189 |
(23%) |
|
August |
12,736 |
12,697 |
(0.3%) |
|
September |
12,036 |
-- |
-- |
|
October |
12,139 |
-- |
-- |
|
November |
11,773 |
-- |
-- |
|
December |
12,602 |
-- |
-- |
*Doesn’t include interest.
Villa mortgages accounted for 68%, or SAR 8.61 billion, of total housing loans provided in August. Apartments and land plots followed with SAR 3.62 billion and SAR 472 million, respectively.
|
New Real Estate Finance by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2022 |
9,403 |
2,106 |
642 |
|
February |
6,818 |
1,498 |
468 |
|
March |
9,224 |
2,956 |
3,096 |
|
April |
5,902 |
1,707 |
1,610 |
|
May |
6,785 |
1,605 |
420 |
|
June |
9,415 |
3,167 |
540 |
|
July |
5,392 |
1,514 |
283 |
|
August |
8,607 |
3,618 |
472 |
*Doesn’t include interest.
According to SAMA, 16,260 contracts were signed between banks and retail clients in August, a decline of 5% YoY.
|
Number of New Real Estate Finance Contracts by Banks* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
23,298 |
16,442 |
(29%) |
|
February |
18,989 |
11,615 |
(39%) |
|
March |
23,380 |
18,999 |
(19%) |
|
April |
19,889 |
11,255 |
(43%) |
|
May |
11,495 |
10,943 |
(5%) |
|
June |
11,309 |
16,487 |
+46% |
|
July |
12,809 |
9,047 |
(29%) |
|
August |
17,143 |
16,255 |
(5%) |
|
September |
15,453 |
-- |
-- |
|
October |
16,223 |
-- |
-- |
|
November |
15,406 |
-- |
-- |
|
December |
16,087 |
-- |
-- |
*Doesn’t include interest
Financing firms provided new real estate finance worth SAR 284 million in August, a decline of 16% YoY.
|
Number of New Real Residential Estate Finance Contracts by Financing Firms (SAR mln) |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
391 |
264 |
(32%) |
|
February |
382 |
221 |
(42%) |
|
March |
515 |
304 |
(41%) |
|
April |
343 |
211 |
(38%) |
|
May |
254 |
148 |
(42%) |
|
June |
193 |
351 |
+82% |
|
July |
191 |
167 |
(13%) |
|
August |
337 |
284 |
(16%) |
|
September |
350 |
-- |
-- |
|
October |
287 |
-- |
-- |
|
November |
264 |
-- |
-- |
|
December |
260 |
-- |
-- |
*Doesn’t include interest
Details and Historical Data of Banks' Key Indicators
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